Algiers LA 70131: August 2008 Home and Real Estate Sales
September 7, 2008 by Lisa Heindel
Filed under Algiers, Market Updates
Current market conditions in Algiers LA 70131 (excluding English Turn):
- 219 active listings, priced from $19,900 to $990,000
- Average list price of $193,912
- 13 pending contracts (accepted but still showing) priced from $80,000 to $385,000
- 31 under contract listings, priced from $22,000 to $249,000
Algiers Homes Sold in August 2008
Based on August sales and the current inventory of homes for sale, there is an 11 month supply of homes for sale in the 70131 zip code – well above the 5-6 months supply expected in a balanced real estate market. With such a large inventory, Algiers continues to offer some excellent bargains for qualified home buyers on the West Bank of New Orleans.
Average Algiers Home Sale Price – August 2008
The year to date average single family home sale price in Algiers is $164,833, significantly lower than the average sales prices recorded in 2007 ($178,124) and 2006 ($184,187).
Home sellers in Algiers should take a fresh look at the comparable sales in their neighborhood and determine if their list price is still a competitive one and if they are in the best condition they can be. As we move into the end of the year, sales traditionally are slower anyway – having an overpriced listing that needs work will not help to sell your home!
Related Reading:
- 4 Things to Expect From Your Agent When Selling Your West Bank Home
- Home Selling Tips – Keep Your Eye on the Bottom Line
- Algiers LA 70131: Real Estate Absorption Rates for August 2008
For professional real estate advice when buying or selling on the West Bank, contact Lisa Heindel.
Copyright 2008. Lisa Heindel and West Bank Living. All rights reserved.
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